Gina Rinehart’s Hancock to sell four more northern Australian cattle stations

Gina Rinehart’s Hancock Agriculture and Kidman Cattle Co are in the “advanced” stages of selling 2.4 million hectares of Australian farmland.

Australia’s richest person Gina Rinehart is close to selling another four cattle stations, about 12 months after listing seven northern Australian cattle stations and a feedlot for sale.

Rinehart’s Hancock Agriculture and S. Kidman Cattle Co are in the “advanced” stages of selling four stations covering about 2.4 million hectaresin the Northern Terrirtoy and Queensland, Hancock Agriculture and S. Kidman Cattle Co acting chief executive Adam Giles said in a statement.

They are selling Brunchilly Station on the Barkly Tablelands in the Northern Territory and Glengyle, Durrie and Naryilco Stations in Queensland’s southwest, which can carry about 45,000 head.

Hancock Agriculture and S. Kidman Cattle Co reportedly received an unsolicited approach to sell the stations, with two buyers involved in discussing a single transaction.

“Following recent rainfall and substantial flooding, all stations are enjoying excellent seasonal conditions,” Mr Giles said in the statement.

Gina Rinehart’s Hancock Agriculture and S. Kidman Cattle Co are close to selling more cattle stations. Picture: Hancock Prospecting

“Since acquisition, the stations have benefited from an extensive capital improvement program including a digital communications system, shading yards, troughs and parts of paddocks, as well as new yards, fences, solar panels and watering systems.”

If the four stations are sold, the Hancock Agriculture and S. Kidman Cattle Co’s holdings will be reduced to just five, totalling more than 2.1 million hectares.

The partnership is retaining the 570,000ha Helen Springs Station in the Northern Territory alongside the 891,000ha Durham Downs Station and Woomanooka Outstation.

The 14,600ha Rockybank Station and 632,000ha Morney Plains Station in Queensland will also be kept.

Mr Giles said S. Kidman’s retained holdings would be used as part of their breeding and backgrounding supply chain model.

“We remain committed to retaining and continuing to support the iconic history of S. Kidman & Co and its legacy and to expand our fine 2GR Wagyu herd,” he said.

In the last 12 months Hancock Agriculture and S. Kidman Cattle Co have sold 10 northern Australian properties after listing the portfolio in March last year.

The Hughes family purchased the adjoining 550,000ha Riveren and Inverway stations in April for $100 million, while in February Crown Point Pastoral’s Viv Oldfield and Donny Costello became the nation’s biggest private landholders.

Viv Oldfield and family via Crown Point Pastoral purchased the Ruby Plains, Sturt Creek, Innamincka Station, Macumba Station and the Phoenix Park feedlot in the last 12 months. Picture: Chloe Erlich

The 147,500ha Aroona Station, the 203,142ha Nerrima Station and the 171,000ha Willeroo Station were also acquired by three different Australian cattle families.

In their latest move Hancock Agriculture and S. Kidman Cattle Co are planning to offload the 457,200ha Brunchilly Station, which has primarily been used for breeding with an average carrying capacity of 24,000 head of cattle.

In Queensland, the partnership is also planning to part with the 751,000ha Naryilco Station, 660,000ha Durrie Station and 550,000ha Glengyle Station.

Naryilco has a carrying capacity of 12,000 head and carries a predominantly Santa Gertrudis-Shorthorn cross herd.

Durrie Station has been held for more than 110 years after S. Kidman and Co acquired the property in 1913, using it as a bullock depot, running up to 9000 head at any given time.

Finally, Glengyle Station is home to the heritage listed S. Kidman’s Tree of Knowledge. At this large Coolibah tree Sir Sidney Kidman camped during his first trip through this part of the country.

The farm links Hancock Agriculture and S. Kidman Cattle Co’s northern properties with southern markets and is used for breeding and fattening the Santa Gertrudis herd.

S. Kidman and Co was founded in 1899 by Sir Sidney Kidman and in 2016 Rinehart’s Hancock Agriculture, in a joint venture with Chinese company Shanghai CRED, acquired the company for $386.5 million.